January 31, 2023

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The right bank can make all the difference in your financial plans.

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If you work with a bank that offers products to further your finances, you’ll see more financial progress than if you stick with a bank that intentionally tempts you with higher fees and the lowest APY. Loses weight.

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For those looking for a reasonable place to keep their savings, Crescent Bank is a good option.

The New Orleans-based bank offers competitive rates to savers across the country. Find relatively high APYs on most savings products. There is a higher minimum initial deposit amount for the high-yield savings account.

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Savings, CD and Checking Accounts

$1,000 for Personal Now Checking and Money Market

$100,000 for a Jumbo Savings Account

$10 for Personal Now and Money Market

(unless you maintain a $1,000 monthly balance)

What is Crescent Bank?

Crescent Bank was originally established in 1991 as Citibank & Trust. A rebrand into Crescent Bank resulted. The founders, Gary N. Solomon Sr. and Fred B. Morgan III, remain active on the bank’s board of directors.

Since its inception, the bank has expanded its service offerings to customers across the country. Although the bank offers a suite of services, it is best known for its auto loans and savings products. What does it offer?

If you’re considering Crescent Bank, here’s what it has to offer.

Jumbo Savings Account

As the name suggests, a jumbo savings account is an option only for those who have a significant amount of savings. With a minimum initial deposit of $100,000, this account is not a viable option for all savers.

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But if you’re looking for a safe place to stash a pile of savings, you’ll earn a relatively high APY. Although there is no minimum balance requirement, you must maintain an average daily balance of $100,000 or more to earn the higher APY.

money market account

Money market accounts provide a flexible place to stash your savings. With Crescent Bank, there’s a tiered APY structure to help you make the most of your savings without leaving your reach.

With this account, you’ll earn a nice APY on balances between $1,000 and $99,999. When you hit the $100,000 mark, the APY increases significantly. However, you will be charged a service fee of $10 per month, which will cut into your potential interest income.


Certificates of Deposit provide a way to grow your savings over time. But to lock in these high rates, you have to be comfortable with a lack of liquidity. If you have to open your CD early, there is often a penalty fee involved.

Crescent Bank offers some of the most competitive rates on its 12-month CDs, which currently earn 4.50% APY.

If you want to get these attractive rates, you will need to make a minimum initial deposit of at least $1,000. Importantly, the online CD rates listed above are only available if you are transferring from a different financial institution.

View Crescent Bank CD here >>

Crescent Bank Review: CD Rates Personal Now Checking Account

If you’re looking for an interest-bearing checking account, Crescent Bank offers one option. You can earn interest on account balances of $1,000 or more.

Plus, maintaining a balance of at least $1,000 will help you avoid the $10 monthly service fee.

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With this account, you will also have unlimited check-writing privileges, a debit card and free withdrawals from Crescent Bank ATMs.

Is there a fee?

Crescent Bank offers attractive APY. But for many accounts, it also requires a significant minimum initial deposit and involves a monthly service fee.

For example, the Personal Now checking account requires a minimum initial deposit of $1,000. You must maintain that balance to avoid the $10 monthly service fee. The monthly money market account fee for personal accounts is $10.

In terms of fees associated with CDs, expect an early withdrawal penalty if you try to get the money out early.

How do I contact Crescent Bank?

If you need to make contact, you can call 877-831-3334. The customer service line is open Monday through Friday, 8:00 a.m. to 4:00 p.m. CT.

Based on customer reviews, using this bank can improve your experience as a saver. But an A+ Better Business Bureau rating will give you some degree of comfort when dealing with this company.

How does Crescent Bank compare?

If you are looking for a way to grow your funds through a savings vehicle, then Crescent Bank offers some very worthwhile APYs. For example, its APY for one-year CDs is one of the best in the market.

But if you’re looking for a high-yield savings account that doesn’t require a $100,000 deposit, upgrade or explore Chime. Both offer high APYs with low minimum initial deposits.


Crescent Bank ComparisonVardhman Bank Comparison: The UpgradeVardhman Bank Comparison: Jhankar

Free ATMs inside their branches in Louisiana

Unlimited Through Reimbursement


How do I open an account?

If you’re ready to open an account with Crescent Bank, you’ll need to provide a government-issued ID and your Social Security number.

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Additionally, be prepared to fund the account by providing the details of the funding account. But if you want the snail mail route, you also have the option of mailing the check to the bank.

Is it safe and secure?

Crescent Bank is a member of the FDIC. Since your deposit is FDIC-insured, it is protected against losses of up to $250,000. The Bank also uses encryption to protect your banking activities while accessing your funds online.

With respect to your personal information, Crescent Bank may use it for marketing purposes. But the bank will not share your information with any other company.

is it worth it?

The APY on CDs available at Crescent Bank are some of the best in the market. If you have money that you want to grow through a CD ladder or for future purchases, these CD rates will come in handy.

But if you’re looking for a high-yield savings account, the large minimum initial deposit means Crescent Bank may not work for your needs. That’s because there are plenty of other high-yield savings accounts with reasonable APYs and minimum deposit requirements.

In any case, you should take a minute to shop around before you commit to this bank. Make sure you’re locking in the best available rate before moving in.

Crescent Bank Features

Checking, Savings, CD, Money Market

$0 to $10, depending on your minimum balance

yes, but only at their places

loan card replacement fee

With unlimited, personal checking account

Monday through Friday, 8 a.m. to 4 p.m. CT.

Web/Desktop Account Access

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